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Sangamo down over 10% in late day trading

Sangamo, which was scheduled to present at the JPMorgan healthcare conference at 2:30 pm ET, is down $1.33, or 10.4%, to $11.48 in late afternoon trading.

09

Jan

SGMOSangamo

$12.18

-0.62 (-4.84%)

11/09/18

GUGG

11/09/18DOWNGRADEGUGGNeutral

Sangamo downgraded to Neutral from Buy at Guggenheim

11/09/18

11/09/18DOWNGRADENeutral

Sangamo downgraded to Neutral after Hemophilia A 'about-face' at Guggenheim

As previously reported, Guggenheim analyst Whitney Ijem downgraded Sangamo to Neutral from Buy after the company reported Q3 earnings and announced that it will not present initial SB-525 in hemophilia A data at ASH in December. The company's "about-face" on the SB-525 data disclosure is concerning and makes Ijem question the timelines around additional updates, she tells investors. While she understand the company's desire to wait for a "complete clinical picture" before announcing data, she worries that it might be a moving target for hemophilia A and potentially other programs, Ijem added. She withdrew her prior $18 price target on Sangamo as she awaits more clarity on what can be expected from the company in 2019.

11/14/18

JPMS

11/14/18DOWNGRADETarget $11JPMSNeutral

Sangamo downgraded to Neutral from Overweight at JPMorgan

JPMorgan analyst Eric Joseph downgraded Sangamo Therapeutics to Neutral and lowered his price target for the shares to $11 from $35. The analyst sees a lack of catalysts following last week's Q3 results.

11/14/18

JPMS

11/14/18DOWNGRADETarget $11JPMSNeutral

JPMorgan downgrades Sangamo to Neutral on 'growing skepticism'

JPMorgan analyst Eric Joseph downgraded Sangamo Therapeutics (SGMO) to Neutral from Overweight and lowered his price target for the shares to $11 from $35. Following the company's Q3 results, the analyst has "growing skepticism" about its lead development programs and "their potential for value creation over the foreseeable future." Visibility into the initial efficacy of the SB-525 / Hemophilia A program "continues to elude, now with indefinite timelines," Joseph tells investors in a research note. With relatively slower recruitment to date, the analyst struggles to see how SB-525 closes ground with the two later-stage competitor FVIII gene therapy programs from BioMarin (BMRN) and Spark Therapeutics (ONCE).